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CSR and decision making Assignment

   

Added on  2021-06-14

5 Pages1230 Words60 Views
Running head: CSR AND DECISION MAKINGCSR and decision makingName of the StudentName of the UniversityAuthor note

2CSR AND DECISION MAKINGPart 1Corporate social responsibility or CSR acts as a model for implementing ethical businessdecisions. It acts as a framework to embrace the responsibility towards employees, communityand environment. Although both the business ethics and social responsibility are considered tobe the same aspect, CSR is observed to be the part of the larger aspect of business ethics. CSRrefers to the responsibility taken by the organisation for the effect of its business activities onenvironment, society, and its own prosperity. Thus, the organisation is obliged to work in bestinterest of the society. On the other hand the business ethics is applied to all aspects of thebusiness conduct and examines the ethical principles a well as ethical or moral issues arising inbusiness. Thus, an individual applying principle of right and wrong in decision making is calledas ethics (Tenbrunsel and Smith‐Crowe 2008). This can be constituted the ethical underpinningof CSR in my opinion. Social responsibility in my opinion is the part of the business ethics as a business has aresponsibility to give back to society. This is the basis of strategic decisions and can be appliedto the business by considering the stakeholder’ opinions, and interests (Lawrence and Weber2014). In my opinion the fiduciary duties toward all stakeholders, universal rights and respect forthe environment, taking into account future and present generation, common good underpins theCSR activities. Their application to the business is evident from the CAFE practices ofStarbucks. The company acts both ethically and responsibly. It is focused towards sustainableproduction of green coffee. It has created the C.A.F.E. Practices, as a framework for socialresponsibility, economic accountability and environmental leadership (Harnrungchalotorn andPhayonlerd 2016). It is evident from the company supporting Ethos Water,by which more than 1billion people get clean water (Crane and Matten 2016). My ethical framework that guides my

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